Putin Backs Bitcoin Mining in Russia: Report

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Russian President Vladimir Putin reportedly backs a government proposal to encourage bitcoin mining in the country through clear taxation and regulatory measures, instead of following the central bank’s recommendations of banning the activity altogether.

According to a report by Bloomberg, the Russian government is mostly against radical measures and instead seeks to promote a healthy bitcoin mining industry by presenting a new set of legislation intended to tax and regulate farms that have flocked to the country in the past year.

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